Rival Shipyards Join Forces to Save One of the World’s Most Iconic Sailing Brands

Two rival Italian motoryacht builders have created a joint venture to acquire Perini Navi, one of the Superyacht world’s most iconic sailing brands. The Ferretti Group and Sanlorenzo sent out a joint statement saying they’d like to acquire Perini Navi from bankruptcy. The builder of many of the world’s most famous sailing superyachts, including Maltese FalconPerseus III and Badis, was declared bankrupt on January 29, with more than $121 million (100 million euros) of debt.

Ferretti and Sanlorenzo are also joining Italy’s Palumbo Group and the Italian Sea Group as suitors for Perini Navi. In a statement, the Italian Sea Group said it “believes that maintaining in Italy a historic brand such as Perini Navi—the leading player of luxury sailing worldwide—represents a strategic interest also for Italy.”

The joint venture statement did not specify how the arrangement would work if Ferretti and Sanlorenzo succeeded in buying Perini Navi at bankruptcy auction. In January 2019, the Ferretti Group acquired Wally Yachts, another builder of custom sailing yachts and motoryachts, though the type of sailing vessel is much different than Perini Navi’s.

“This is an important day for the Italian yachting industry, for the employees of Perini Navi and for their families, ensuring their unique skills will continue to be protected,” said Alberto Galassi, CEO of the Ferretti Group, in announcing the joint venture. “At Ferretti Group, we are always on the lookout for excellence and capabilities to integrate with our own. And often we find them in Italy, as is the case today. We are confident our commitment will translate into further growth that benefits the local area and raises the profile of the Italian yacht industry still further.”

Sanlorenzo executive chairman Massimo Perotti added that he always “had great admiration” for Perini Navi’s business model, which included building bespoke sailing yachts for “expert owners and connoisseurs.” Sanlorenzo expressed an interest last year in acquiring Perini Navi. But the deal fell through in late stages of negotiations and Perini went into receivership.

Beyond its trademarks and brand identity, Perini Navi has shipyards in both Viareggio and La Spezia, Italy and outside Istanbul, Turkey. It had a custom motoryacht line called Picchiotti Yachts, but that brand was shuttered two years ago as part of an internal restructuring that failed to bring Perini back to financial health.

Beyond shipyards, whichever builder acquires Perini Navi will gain a foothold in superyacht sustainability, since sailing yachts are much more eco-friendly than motoryachts. Courtesy Perini Navi

Palumbo Superyachts, which has in recent years acquired the brands ISA Yachts, Columbus Yachts, Mondomarine, and Extra Yachts, also expressed interest in the Perini brand earlier this month.

The Italian bankruptcy court in Lucca has not announced a date for the Perini auction, but one source close to a suitor says a deal will probably take several months to finalize.

robbreport.com


More Photos about the article
Rival Shipyards Join Forces to Save One of the World’s Most Iconic Sailing Brands

Product Presentations - More Articles...
THIS 262-FOOT SUPERYACHT CONCEPT COMES WITH ITS OWN STAGE FOR CONCERTS ON THE HIGH SEAS
In the midst of the Covid-19 pandemic, Charly Phitoussi started the Instagram @prestigeyachts to showcase the world’s...
RIVAL SHIPYARDS JOIN FORCES TO SAVE ONE OF THE WORLD’S MOST ICONIC SAILING BRANDS
Two rival Italian motoryacht builders have created a joint venture to acquire Perini Navi, one of the Superyacht...
HOW THIS REVOLUTIONARY NEW 600 HP ENGINE IS CHANGING YACHT DESIGN
Mercury Marine’s new 600 hp V-12 Verado, launched on Tuesday from its famed Lake X research facility in Florida,...
BENETTI LAUNCHES NINTH MEDITERRANEO 116 SUPERYACHT SUNRISE
Benetti has announced that the 35.5-metre yacht Sunrise has been launched in Viareggio as the shipbuilder’s ninth unit...
THIS LIGHTNING-FAST NEW CATAMARAN LOOKS LIKE A BOND VILLAIN’S GETAWAY SHIP
Is it a boat? Is it a plane? What we have here is a boat that “flies.” At its 70-mph top speed, the new French-built...
30M BAGLIETTO YACHT MARAYA SOLD IN GREECE
The 30.4-metre yacht Maraya has been sold after 849 days on the market with a last known asking price of €1,850,000.00....
VOLKSWAGEN IS TEAMING UP WITH SILENT YACHTS TO CREATE FUTURISTIC SOLAR-POWERED CATAMARANS
After churning out cars 84 years, Volkswagen is switching gears and segueing into the yachting game. The German...
ARCADIA YACHTS UNVEILS A HIGHLY EFFICIENT 78-FOOTER THAT CAN COVER OVER 1,400 MILES
In 2019, Arcadia Yachts made waves when it unveiled a new 78-footer known as Sherpa XL at the Cannes Yachting Festival,...
MEET OLOKUN, A 164-FOOT ALL-ALUMINUM SUPERYACHT THAT TURNS LOUNGING INTO AN ART FORM
Tankoa has a new shining star in its superyacht fleet. The acclaimed Italian shipbuilder has just flaunted an...
THIS SLEEK AND SPEEDY NEW RUNABOUT WAS INSPIRED BY A VINTAGE PORSCHE
Consider the latest Hermes Speedster model from UK-based Seven Seas Yachts as a Porsche 356 for the sea—but with a...

REGISTER FOR FREE


Contact Info

+357 25577750

+357 25577760

info@dacor.com.cy

Social Media

Email newsletter

Bookmark this site

Share Cyprus Yachting


P.O. Box 55329, 3821 Limassol, Cyprus

Copyright © 2018 Dacor Advertising & Media LTD. All rights resevred.